John Henry, principal owner of the Boston Red Sox, has entered into an agreement to purchase The Boston Globe, the newspaper announced.

In a tweet late Friday night and a story post on its website, Boston.com, early Saturday morning, the Globe said Henry, 63, will acquire the newspaper, its websites and affiliated companies for $70 million. The New York Times company sold the last of its stake, totaling $225 million, in 2012.

This is Henry’s first foray into news media, the Globe reports, after making a fortune in investment funds and building a sports empire that includes the Red Sox, Roush Fenway Racing, Liverpool Football Club and NESN.